Issue - meetings

The Committee received a presentation from a representative from the LAPFF on the benefits of the Havering Pension Fund (the ‘Fund’) becoming a member of his organisation.

Members recognised that LAPFF has lobbying power when it comes to holding predominantly UK-based companies to account for their operation and governance. Questions were raised however regarding its influence and strategy with the emergence of pooled resources such as CIV.

The Committee:

1.    Agreed that the fund should become a member of LAPFF on an initial one year basis with a review in November 2018 as to continued membership;

2    Noted that the Investment Strategy Statement would be amended To reflect membership of LAPFF and incorporation at the next review

The resolution was passed by 4 votes to 3. Councillors Crowder, Wallace and Chapman voted against the resolution.